SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens., This news data comes from:http://www.xs888999.com
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
The accompanying explanatory statement said the measure “allows local governments to levy a half-percent socialized housing tax on urban land values, with proceeds dedicated to socialized housing and public rental projects.”
Go files housing development bill
”In addition, the bill introduces securitization mechanisms to raise more housing funds through bonds and securities exempted from usual taxes and registration requirements. Private developers will also be incentivized to participate in socialized and low-cost housing projects, with such participation counted toward compliance with balanced housing laws,” it added.
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- Emma Tiglao crowned Miss Grand PH 2025
- Bonoan resigned due to command responsibility — Marcos
- Thai Court: PM Shinawatra violated ethics rules
- Pacifist Japan struggles to boost troops as China anxiety grows
- South Korea's Lee faces pivotal test at first summit with Trump
- 95 IMAGES OF MARY
- 'Blood Moon' to rise during total lunar eclipse Sunday night
- Red Cross head says mass evacuation of Gaza City 'impossible'
- WorldSkills Asean Manila begins
